Estate agents valued at 160-170k...what to list at?!

[Cavalierchaos]

I have had multiple valuations from estate agents between 160-170k. Most were for 165k, with some estate agents saying to put 'offers over'.

One estate agent said it would be better to list at 170k than 165k because of rightmove's sorting categories (170 would appear in searches for 160-170 and 170-180, whereas 165 would only appear in 160-170).

I personally think 170k is a bit much and I don't know whether to gamble! I would be happy with 165k.

What do you think i should list at?

I think in England'offers over' is pointless and people will still make a lower offer. It might be different in Scotland.

I’ve literally just sold mine (we complete next week) and knew I needed a minimum of 150k so listed it at 165k and accepted the first offer of 155k. They think they’re getting a bargain and I’m getting more than I would’ve accepted. Win win

Agree with none of the offer over crap though, it’s annoying and you never know how much over they’ve already decided mentally

Are they getting a bargain, or any good value?

Closest comparable house in my village recently sold for 170 so I’d say so. I honestly just need rid of it and had a minimum amount required. If they’d bartered and offered 150 it would’ve been accepted just as quickly

Nice, very refreshing attitude to the house selling process actually, much better than some of the nonsense you hear about telling buyers where to go if they dare to offer 2k under the desired price.

Labour have increased every costs to every business and every working person
The property market is crap
Prices are falling
I work in New build homes - its is the worst it has been for decades and will get worse after the next budget where taxes will go up for workers and business again

Thank you! I just think that yes, I could’ve got more money for it in theory, but we were all first time buyers once upon a time and would I rather have an extra 5-10 grand I don’t necessarily “need” with more stress and a longer process, or let the young couple who want a their first home get something of a bargain and get it over and done with quickly.

Yes, win win is how good business is done, good deal!

Much depends on your circumstances. Do you have to sell? If so go in at 160 and take an offer. If not you’ll be waiting it out along with everyone else. Probably watching things reduce over time but because everyone’s waiting it out that makes it hard to find the next place.

Sellers are free to set their price and to refuse a lower offer if they so choose.

Try a thought experiment. If you put it on for £1 then there'd be a bidding war. £2 - bidding war. Etc. So there is a marketing price for 99% of properties that will ignite a bidding war. You and your EA just need to find it. Good ones do.

Yes, but they also have to accept that future offers could be much lower.

Or much higher

Only if they are growing their own weed.

This is utterly mad, why on earth would op listen to a random on mn advising to put it on for 10% less than the professionals who know both the market and her local area???

All the doomsayers confidently announcing the market is dead, people are cautious etc dont seem to be able to see beyond their own narrow area - near me bidding wars are very much a thing - I've had them in the last 4 properties Ive offered on and despite offering more than 10k over (all on houses less than £200k so a significant amount over) didnt get any of them. First time buyers (which from ops price her house sounds as though it might come under the target market for) are often going to be the least affected by any market issues anyway because a) they dont have to worry about losing equity in their current home so less incentive to sit tight and ride it out and b) are more likely to be renting so already used to paying high amounts per month.

Anyway I'd go for £165k but not offers over, op, agree people dont like that.

Offers over 180k

Every time I see ‘offers over’ I think the seller is cheeky and going to be a pain in the arse to deal with so I wouldn’t bother enquiring unless the house ticks a lot of boxes in other ways.

To get the sale at £170k, your agent might be lying (gosh what a surprise) about buyers being so exact with their search parameters because that’s not been my experience or that of anyone I know who’s been looking online for a property.

Go with £165k.

Why would someone even start a thread if the EA"s know so much? It is common knowledge that EA"s value high to get business then talk sellers down to market reality. If "some random" was saying "Way to go, put it on for 10% more, tell silly offers to fuck off" etc. etc would you object then?